Replacing a production line


Problem: A manufacturing company wants to have $100,000 available in 5 years to replace a production line. The amount of money that would have to be deposited each year at an interest rate of 10% per year would be closest to?

a. 12,380

b. 13,380

c. 16,380

d. 26,380

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Finance Basics: Replacing a production line
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